Stock Market & Financial Investment News

Large money managers looking to influence companies, NY Times saysMutual funds and other major money managers are collaborating with hedge funds behind the scenes to influence the decisions of publicly traded companies, according to The New York Times. T. Rowe Price (TROW) now has a reputation of trying to convince hedge funds to launch activist campaigns, while BlackRock's (BLK) portfolio managers reportedly give hedge funds some ideas, the newspaper stated. Reference Link

Symphony Communication eyes $1B funding round, WSJ reportsSymphony Communication Services, an instant-messaging software company backed by Wall Street firms including Goldman Sachs (GS), is eyeing an investment round that may value it at as much as $1B, the Wall Street Journal reports, citing people familiar with the matter. The startup is canvassing a range of possible new investors, including venture-capital funds and additional financial firms, the report says. Symphony also wants funds from its existing backers, including Goldman, Morgan Stanley (MS), JPMorgan Chase (JPM), and BlackRock (BLK), the report says. Reference Link